GE Shipping to sell its single hull Aframax
GE Shipping to sell its single hull Aframax >Great Eastern Shipping Company (GE Shipping) announced that the company signed a contract to sell its 1988 built single hull Aframax tanker `Jag Labh.` The company acquired this Japanese built ship of 96,551 dwt in February 2005. The ship is scheduled for delivery to buyers in the third quarter of financial year 2007-08. GE Shipping is selling this ship so as to reduce its presence in the non-double hull tanker fleet. In line with the same strategy, the company had sold the `Jag Laadki` (Suezmax), `Ardeshir H Bhiwandiwalla` (VLCC) and `Jag Leher` (Aframax) earlier this year.
Shares of the company declined Rs 3.15 , or 0.92%, to trade at Rs 338.4. The total volume of shares traded was 51,841 at the BSE.(1.37 pm ,Thursday)
